Sales of about 13,000 oz. gold in 1993 netted Fairfield Minerals (TSE) an after-tax income of $1.59 million or about 24 cents per share.
The production came from bulk sampling programs at the company’s Siwash North mine in southern British Columbia.
Fairfield received an average of US$352 per oz. of gold produced while total costs amounted to US$170 per oz.
Fairfield still has an inventory of 6,000 oz. gold and expects to produce a further 25,000 oz. this year.
The company has sufficient funds to cover the current $5 million in work now under way.
The budget includes an exploration program on a large tonnage target about 12 miles east of Siwash North and adjacent to the Brenda mine.